GLARUNTECH(SH:600562)2024-04-24 09:22Financial Performance - The company's operating revenue for Q1 2024 was RMB 562,028,382.63, representing a decrease of 1.82% compared to the same period last year[4] - The net profit attributable to shareholders of the listed company was RMB 115,520,447.75, an increase of 2.70% year-on-year[4] - The net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 111,578,480.46, showing a slight increase of 0.46%[4] - The basic and diluted earnings per share were both RMB 0.09, unchanged from the previous year[4] - The net profit for Q1 2024 was approximately ¥130.08 million, slightly down from ¥131.34 million in Q1 2023, indicating a decrease of 1.0%[51] - The total comprehensive income attributable to the parent company was approximately 115.52 million, compared to 112.48 million in the same period last year, indicating a growth of about 2.7%[52] - The net profit for Q1 2024 was approximately 115.78 million, compared to 112.19 million in Q1 2023, reflecting a growth of about 3.4%[52] - The operating profit for Q1 2024 was 17,939,448.46, a significant improvement from the operating loss of -6,851,367.43 in Q1 2023[67] Cash Flow - The net cash flow from operating activities was negative at RMB -288,488,222.42, indicating a significant cash outflow[4] - The net cash flow from operating activities for Q1 2024 was negative CNY 4,474,250.63, a significant decline from negative CNY 25,685,315.25 in Q1 2023[39] - The total cash inflow from operating activities decreased to approximately 378.97 million from 552.91 million year-over-year, a decline of about 31.3%[54] - The net cash flow from operating activities was negative at approximately -288.49 million, slightly improved from -297.26 million in the previous year[54] - The company incurred credit impairment losses of -890,484.84 in Q1 2024, compared to -293,329.13 in Q1 2023, indicating an increase in credit risk[67] Assets and Liabilities - Total assets at the end of the reporting period were RMB 8,987,230,255.08, reflecting a slight increase of 0.17% from the end of the previous year[17] - The total assets as of March 31, 2024, amounted to CNY 4,734,437,874.46, compared to CNY 4,720,242,537.64 as of December 31, 2023, reflecting a slight increase[32] - The total liabilities decreased from CNY 70,403,646.28 to CNY 64,769,019.65, indicating a reduction in financial obligations[35] - Total liabilities decreased to approximately ¥3.30 billion as of March 31, 2024, down from ¥3.40 billion at the end of 2023, reflecting a reduction of 2.9%[48] - The company reported a total equity of CNY 4,669,668,854.81 as of March 31, 2024, up from CNY 4,649,838,891.36 at the end of the previous year[35] - Shareholders' equity increased to approximately ¥5.69 billion as of March 31, 2024, compared to ¥5.57 billion at the end of 2023, indicating a growth of 2.1%[48] Shareholder Information - The company reported a total of 34,690 common shareholders at the end of the reporting period[18] - The top three shareholders held a combined 65.18% of the company's shares, indicating significant ownership concentration[18] Expenses - Total operating costs for Q1 2024 were approximately ¥434.57 million, down 2.4% from ¥445.41 million in Q1 2023[51] - Research and development expenses increased significantly to ¥40.31 million in Q1 2024, compared to ¥24.51 million in Q1 2023, reflecting a growth of 64.3%[51] - The financial expenses for Q1 2024 were -2,346,171.48, compared to -605,060.91 in Q1 2023, reflecting a decrease in financial costs[67] - The company’s tax expenses for Q1 2024 were -1,885,514.99, compared to -1,184,835.71 in Q1 2023, showing an increase in tax liabilities[67] Management and Governance - The management team includes Li Langping as the company leader, Zhu Ming as the head of accounting, and Wang Zhiquan as the head of the accounting institution[68] - The company has not adopted new accounting standards for the first quarter of 2024[70]